Indian Oil, GAIL to take 50% stake in Dhamra LNG import project

摘要

INDIAN DUO INDIAN OIL AND GAIL HAVE SIGNED A MEMORANDUM OF UNDERSTANDING TO BUY A 50% STAKE IN THE PROPOSED 5 MTPA DHAMRA LNG TERMINAL IN EASTERN INDIA FROM ADANI GROUP. THE TRANSACTION WOULD LEAVE INDIAN OIL AND GAIL WITH 39% AND 11% EQUITY STAKES RESPECTIVELY IN THE PROJECT, VALUED AT APPROXIMATELY INR 6,000 CR (USD 901 MILLION), BEFORE DIVESTING 1% EACH TO A FINANCIAL INSTITUTION.